Soltis Investment Advisors LLC Buys New Shares in Zoetis Inc. (NYSE:ZTS)

Soltis Investment Advisors LLC purchased a new position in Zoetis Inc. (NYSE:ZTS) in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 4,064 shares of the company’s stock, valued at approximately $688,000.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Focus Financial Network Inc. ADV bought a new position in shares of Zoetis in the fourth quarter worth about $2,159,000. Price T Rowe Associates Inc. MD grew its stake in Zoetis by 31.0% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 13,716,681 shares of the company’s stock valued at $2,707,262,000 after acquiring an additional 3,244,074 shares in the last quarter. Ninety One UK Ltd increased its holdings in shares of Zoetis by 13.1% in the fourth quarter. Ninety One UK Ltd now owns 108,293 shares of the company’s stock worth $21,374,000 after purchasing an additional 12,537 shares during the last quarter. Axiom Investors LLC DE increased its stake in Zoetis by 36.3% in the 4th quarter. Axiom Investors LLC DE now owns 594,474 shares of the company’s stock worth $117,331,000 after acquiring an additional 158,459 shares during the last quarter. Finally, Global Assets Advisory LLC bought a new stake in Zoetis in the first quarter worth $8,831,000. 92.80% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on the stock. Piper Sandler reaffirmed an “overweight” rating and issued a $195.00 price target (down previously from $220.00) on shares of Zoetis in a report on Tuesday, April 16th. Stifel Nicolaus cut their target price on Zoetis from $195.00 to $180.00 and set a “buy” rating on the stock in a research report on Tuesday, April 30th. Barclays lowered their price target on Zoetis from $260.00 to $230.00 and set an “overweight” rating for the company in a research report on Tuesday, April 23rd. HSBC cut their price objective on shares of Zoetis from $230.00 to $225.00 and set a “buy” rating on the stock in a research report on Wednesday, May 8th. Finally, The Goldman Sachs Group dropped their price target on shares of Zoetis from $223.00 to $196.00 and set a “buy” rating for the company in a research note on Monday, May 6th. Nine analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, Zoetis has an average rating of “Buy” and a consensus price target of $212.67.

Zoetis Stock Down 1.0 %

NYSE ZTS traded down $1.83 on Friday, reaching $180.59. 2,699,619 shares of the stock traded hands, compared to its average volume of 1,898,130. The company has a market cap of $82.40 billion, a price-to-earnings ratio of 34.80, a PEG ratio of 2.83 and a beta of 0.86. The company has a debt-to-equity ratio of 1.30, a quick ratio of 1.94 and a current ratio of 3.33. Zoetis Inc. has a 12 month low of $144.80 and a 12 month high of $201.92. The company has a fifty day moving average price of $175.44 and a 200-day moving average price of $175.72.

Zoetis (NYSE:ZTS) last released its quarterly earnings data on Thursday, May 2nd. The company reported $1.38 earnings per share for the quarter, topping analysts’ consensus estimates of $1.34 by $0.04. Zoetis had a net margin of 27.38% and a return on equity of 50.34%. The company had revenue of $2.19 billion during the quarter, compared to analyst estimates of $2.14 billion. During the same period in the prior year, the firm earned $1.31 earnings per share. The firm’s revenue for the quarter was up 9.5% compared to the same quarter last year. As a group, research analysts forecast that Zoetis Inc. will post 5.76 EPS for the current fiscal year.

Zoetis Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, September 4th. Shareholders of record on Thursday, July 18th will be issued a dividend of $0.432 per share. The ex-dividend date is Thursday, July 18th. This represents a $1.73 dividend on an annualized basis and a yield of 0.96%. Zoetis’s dividend payout ratio is currently 33.14%.

Zoetis Company Profile

Zoetis Inc engages in the discovery, development, manufacture, and commercialization of animal health medicines, vaccines, and diagnostic products and services in the United States and internationally. The company commercializes products primarily across species, including livestock, such as cattle, swine, poultry, fish, and sheep and others; and companion animals comprising dogs, cats, and horses.